Benchmark Middle East Hotel Benchmark Survey Report ember 211 The hotel benchmark report provides a monthly performance overview of leading hotels in the Middle East. The hotel set includes international branded and operated properties across the 5 star and 4 star segment.
Introduction We hope you enjoy the ember 211 report of the. Inside we cover occupancy and rate performance in key hotel markets across selected countries and cities in the Middle East on a monthly and year to date basis in local currencies and US dollars. This monthly Middle East Hotel Benchmark Survey and our monthly Spa Industry Benchmark Survey are part of our services to the hospitality sector. Ernst & Young s Transaction Real Estate Advisory Services team headquartered in Dubai is the leading business advisory practice in the region. Our team consists of professionals from around the globe with extensive real estate, hospitality operations and advisory experience. We understand and offer a full scope of multidisciplinary services for developers, lenders, owners and operators. Our specialist services include acquisitions, capital sourcing, highest and best use analysis, due diligence, market and financial feasibility studies, management company selection/contract reviews, strategic business planning, repositioning analysis, operational enhancement/diagnostics, valuations/appraisals and disposition, for every real estate industry segment such as hotel, residential, commercial, retail, restaurant, golf, marina, theme park and convention center. Ernst & Young is the largest professional services firm in Middle East with 2 offices in 15 countries and part of the global Ernst & Young network with over 152, people in 14 countries. Sincerely Yousef Wahbah Partner and Head of MENA Transaction Real Estate Page 3: We have highlighted the largest variance on a per month basis for the various markets over the last twelve month period in regards to occupancy, average room rate, and room yield Page 4: Dubai overall occupancy, average room rate and room yield over the past twelve months Page 5: Monthly performance of various markets compared to the previous year s monthly period in local currency. Page 6: Monthly performance of various markets compared to the previous year s monthly period in US Dollar currency. Page 7: Year-to-Date performance of various markets compared to previous year period in local currency. Page 8: Year-to-Date performance of various markets compared to previous year period in US Dollar currency.
kets with the largest variance on a per month basis % Occupancy Cairo Overall Hotels Occupancy % ember 21 - ember 211 1 9 8 7 82.2 72.4 67.2 6 Occupancy % 5 4 3 32.5 34.3 37.1 39.1 39.4 43.9 37.6 2 18.8 23.4 2.9 1 Average Room Rate Sharm El Shaikh Hotels (US$) 1 Average Room Rate ember 21 - ember 211 9 Average Room Rate 8 7 6 5 4 3 74 71 7 59 51 55 45 43 4 39 45 56 57 2 1 Rev PAR in Makkah Hotels (US$) Room Yield ember 21 - ember 211 8 722 7 Room Yield 6 5 4 53 3 26 352 2 1 141 176 169 177 121 125 18 82 72
Dubai overall monthly performance % Occupancy Dubai Overall Hotels 1 9 8 87.2 82 82 9.2 Occupancy % ember 21 - ember 211 85.6 85.8 8.8 76.7 75.9 74.1 82.3 87.4 7 6 Occupancy % 5 4 52.6 3 2 1 Average Room Rate Dubai Overall Hotels (US$) 5 Average Room Rate ember 21 - ember 211 45 4 35 Average Room Rate 3 25 2 15 267 231 245 256 262 269 193 156 158 147 189 255 217 1 5 Rev PAR in Dubai Overall Hotels (US$) 5 Room Yield ember 21 - ember 211 45 4 35 3 Room Yield 25 2 232 189 21 231 224 231 21 189 15 1 148 119 128 77 14 5
Various markets monthly performance (Local Currency) Monthly Performance: 11/211 Currency: Local Occupancy Average Room Rate Rooms Yield Currency 211 % 21 % Change in % Points 211 21 Change 211 21 Change Bahrain Manama BHD 47. 63. -16. 79 92-14.1% 38 59-35.9% Egypt Cairo City EGP 35. 82. -47. 642 694-7.6% 225 571-6.7% Cairo Overall EGP 37.6 82.2-44.6 666 696-4.3% 251 572-56.2% Hurghada EGP 81. 95. -14. 251 323-22.5% 23 38-34.% Sharm El Shaikh EGP 75. 92. -17. 329 427-22.8% 248 393-36.8% Jordan Amman JOD 65. 61. 4. 99 12-2.9% 64 63 2.1% Kuwait Kuwait KWD 56. 55. 1. 92 88 4.5% 52 49 5.4% Lebanon Beirut LBP 74. 73. 1. 369,946 422,332-12.4% 275,415 312,32-11.7% Oman Muscat OMR 73. 8. -7. 86 84 2.% 64 68-6.% Qatar Doha QAR 69. 66. 3. 1,31 1,34 -.3% 715 688 3.9% Saudi Arabia Jeddah SAR 77. 76. 1. 89 835 6.6% 691 636 8.7% Madina SAR 64. 82. -18. 1,132 1,356-16.5% 732 1,112-34.2% Makkah SAR 61. 88. -27. 2,162 2,241-3.5% 1,319 1,989-33.7% Riyadh SAR 49. 47. 2. 843 873-3.4% 416 419 -.5% United Arab Emirates Abu Dhabi AED 84. 84.. 991 1,142-13.2% 835 963-13.3% Al Ain AED 64. 69. -5. 686 61 14.2% 44 418 5.1% Dubai Apartments AED 94. 88. 6. 476 441 8.% 449 388 15.8% Dubai Beach AED 83. 89. -6. 95 1,516-4.3% 76 1,36-44.2% Dubai City AED 88. 85. 3. 762 719 5.9% 677 617 9.8% Dubai Overall AED 87.4 87.2.2 795 979-18.7% 695 853-18.6% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai-Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
Various markets monthly performance (US Dollar) Monthly Performance: 11/211 Currency: US$ Occupancy Average Room Rate Rooms Yield Currency 211 % 21 % Change in % Points 211 21 Change 211 21 Change Bahrain Manama US$ 47. 63. -16. 211 245-14.1% 11 157-35.9% Egypt Cairo City US$ 35. 82. -47. 111 12-7.6% 39 99-6.7% Cairo Overall US$ 37.6 82.2-44.6 115 121-4.3% 43 99-56.2% Hurghada US$ 81. 95. -14. 43 56-22.5% 35 53-34.% Sharm El Shaikh US$ 75. 92. -17. 57 74-22.8% 43 68-36.8% Jordan Amman US$ 65. 61. 4. 14 144-2.9% 91 89 2.1% Kuwait Kuwait US$ 56. 55. 1. 315 31 4.5% 178 168 5.4% Lebanon Beirut US$ 74. 73. 1. 244 279-12.4% 182 26-11.7% Oman Muscat US$ 73. 8. -7. 224 219 2.% 165 176-6.% Qatar Doha US$ 69. 66. 3. 283 284 -.3% 197 189 3.9% Saudi Arabia Jeddah US$ 77. 76. 1. 237 223 6.6% 184 17 8.7% Madina US$ 64. 82. -18. 32 362-16.5% 195 297-34.2% Makkah US$ 61. 88. -27. 577 598-3.5% 352 53-33.7% Riyadh US$ 49. 47. 2. 225 233-3.4% 111 112 -.5% United Arab Emirates Abu Dhabi US$ 84. 84.. 27 311-13.2% 227 262-13.3% Al Ain US$ 64. 69. -5. 187 164 14.2% 12 114 5.1% Dubai Apartments US$ 94. 88. 6. 13 12 8.% 122 16 15.8% Dubai Beach US$ 83. 89. -6. 247 413-4.3% 27 37-44.2% Dubai City US$ 88. 85. 3. 27 196 5.9% 184 168 9.8% Dubai Overall US$ 87.4 87.2.2 217 267-18.7% 189 232-18.6% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai-Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
Various markets Year to Date performance (Local Currency) Year to Date Performance: 1/211 11/211 Currency: Local Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points 211 21 Change 211 21 Change Bahrain Manama BHD 34. 63. -29. 84 95-11.9% 29 6-52.3% Egypt Cairo City EGP 33. 72. -39. 69 667 3.5% 231 485-52.4% Cairo Pyramids EGP 54. 73. -19. 759 698 8.8% 415 513-19.1% Cairo Overall EGP 36. 72. -36. 74 671 4.9% 254 489-48.% Hurghada EGP 64. 86. -22. 218 267-18.5% 142 232-39.% Sharm El Shaikh EGP 57. 86. -29. 291 368-2.7% 168 319-47.3% Jordan Amman JOD 56. 64. -8. 11 13-2.% 57 67-14.2% Kuwait Kuwait KWD 53. 54. -1. 83 78 5.8% 44 42 4.1% Lebanon Beirut LBP 58. 69. -11. 336,71 391,84-14.1% 195,781 27,428-27.6% Oman Muscat OMR 64. 66. -2. 81 79 3.2% 53 53.% Qatar Doha QAR 63. 62. 1. 96 1,19-5.8% 66 636-4.7% Saudi Arabia Jeddah SAR 72. 73. -1. 816 8 2.1% 593 585 1.2% Madina SAR 66. 66.. 755 719 5.1% 51 482 4.1% Makkah SAR 73. 72. 1. 1,164 1,163.1% 854 844 1.3% Riyadh SAR 57. 54. 3. 868 871 -.4% 498 479 4.% United Arab Emirates Abu Dhabi AED 76. 74. 2. 778 851-8.6% 592 631-6.2% Al Ain AED 65. 73. -8. 589 585.7% 383 429-1.7% Dubai Apartments AED 83. 8. 3. 424 427 -.6% 355 342 3.9% Dubai Beach AED 81. 8. 1. 1,113 1,115 -.1% 92 892 1.1% Dubai City AED 77. 72. 5. 647 646.2% 54 471 7.% Dubai Overall AED 79. 75. 4. 797 799 -.2% 632 65 4.5% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai-Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
Various markets Year to Date performance (US Dollar) Year to Date Performance: 1/211 11/211 Currency: US$ Currency 211 % 21 % Occupancy Average Room Rate Rooms Yield Change in % Points 211 21 Change 211 21 Change Bahrain Manama US$ 34. 63. -29. 223 253-11.9% 76 159-52.3% Egypt Cairo City US$ 33. 72. -39. 12 116 3.5% 4 84-52.4% Cairo Pyramids US$ 54. 73. -19. 132 121 8.8% 72 89-19.1% Cairo Overall US$ 36. 72. -36. 122 116 4.9% 44 85-48.% Hurghada US$ 64. 86. -22. 38 46-18.5% 25 4-39.% Sharm El Shaikh US$ 57. 86. -29. 51 64-2.7% 29 55-47.3% Jordan Amman US$ 56. 64. -8. 143 146-2.% 81 95-14.2% Kuwait Kuwait US$ 53. 54. -1. 284 268 5.8% 151 145 4.1% Lebanon Beirut US$ 58. 69. -11. 222 259-14.1% 129 178-27.6% Oman Muscat US$ 64. 66. -2. 211 25 3.2% 137 137.% Qatar Doha US$ 63. 62. 1. 264 28-5.8% 167 175-4.7% Saudi Arabia Jeddah US$ 72. 73. -1. 218 213 2.1% 158 156 1.2% Madina US$ 66. 66.. 21 192 5.1% 134 128 4.1% Makkah US$ 73. 72. 1. 31 31.1% 228 225 1.3% Riyadh US$ 57. 54. 3. 231 232 -.4% 133 128 4.% United Arab Emirates Abu Dhabi US$ 76. 74. 2. 212 232-8.6% 161 172-6.2% Al Ain US$ 65. 73. -8. 16 159.7% 14 117-1.7% Dubai Apartments US$ 83. 8. 3. 115 116 -.6% 97 93 3.9% Dubai Beach US$ 81. 8. 1. 33 34 -.1% 246 243 1.1% Dubai City US$ 77. 72. 5. 176 176.2% 137 128 7.% Dubai Overall US$ 79. 75. 4. 217 218 -.2% 172 165 4.5% Notes Figures may not add up due to rounding. Cairo Overall includes: Cairo City and Cairo Pyramid Hotels. Dubai-Overall Includes: Dubai Beach, Dubai City and Dubai Apartment Hotels The Middle East Hotel Benchmark Survey was developed and is maintained by Ernst & Young s Dubai office under the direction of Yousef Wahbah who leads the Transaction Real Estate Advisory Services Group across the MENA region. It is intended for informational use only. The reader should consult his or her professional investment advisor, attorney, or accountant before making any decision or taking any action based upon the information presented in this document. Benchmark data is provided by individual hotel companies. While we believe the data collected is reliable, Ernst & Young has not performed an audit or review of the information gathered and does not express an opinion or any form of assurance on the accuracy of such information. This report is also proprietary of Ernst & Young and no part of this report, in whole or in part, may be reproduced or transmitted without written consent of Ernst & Young. All requests to reproduce this information must be addressed to yousef.wahbah@ae.ey.com. For information regarding the Hotel Benchmark, contact the Dubai office of Ernst & Young at +971 4 332 4.
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